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life after bankruptcy, what now?
horizonlady
Posts: 1 Newbie
I am married with 5 children and studying at university to become a qualified counsellor in just over 1 year. i was discharged from bankruptcy in april this year and so was my husband. my husband is currently on disability benefits and i am on student finance. i hope to one day own my own home how can we get on the right track now.to one day have a mortgage. Thanks 
0
Comments
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Hi & welcome,
There are lenders that will lend to discharged bankrupts however the loan-to-value (LTV - ie the % between the loan amount & the value of the property) will be affected & any lender will require a very large deposit...25-50% would be typical.
Mortgage applications will always ask `have you ever been declared bankrupt` so, even if you are outside the 6 years marker on your credit report, you will still need to disclose that fact.
My advice (having been a mortgage advisor for 10 years) would be to get saving & make sure you clean up your credit report .
Good luck with your studies.0
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